Report: Memphis Grizzlies sale close to breaking down [UPDATE]

Robert J. Pera may not be Grizz's new boss, after all. (Joe Murphy, Getty Images)

Update, June 18, 4:35 p.m.: Information cited in this blog post was incorrect. The original story below was based on inaccurate information reported in the New York Daily News.The report of Pera's net worth was changed from $200 million in the initial report, to "well over $800 million" in a later update.More market analysis on Pera's firm Ubiquiti can be found here.

Communications magnate Robert J. Pera just agreed a fee to buy the Memphis Grizzlies earlier this week, but already his bid may be in trouble. A rough week at the market for Pera's communications technology firm Ubiquiti networks is to blame, according to a report from the New York Daily News.